Calculate the required return for an investor with an investment of $100m, and requires $5m per annum (in today's dollar terms). Inflation is expected to remain at 1.5% per year, and the investor wishes to grow the portfolio in real terms by 2% per annum. No further contributions are expected for this investment portfolio.

a. 1.5%

b. 5.5%

c. 7%

d. 6.5%

e. 8.5%